The global automated guided vehicle market size was valued at $5.21 billion in 2019 and is projected to reach $13.52 billion by 2027, registering a CAGR of 16% during the forecast period.
The growth of the AGV market is driven by increasing demand for automation in material handling across industries, changing demand from mass production to mass customization, the increasing popularity of e-commerce due to COVID-19, and improved safety standards at the workplace. Furthermore, industrial growth in emerging economies, the presence of the intralogistics sector in Southeast Asia, and the growing adoption of industrial automation by small and medium-sized enterprises are likely to fuel market growth.
A full report of Automated Guided Vehicle Market is available at: https://www.orionmarketreports.com/automated-guided-vehicle-market/27848/
The outbreak of COVID-19 did not give industries and businesses time to prepare for or protect against losses. The market scenario is ambiguous and can rise or fall steeply depending on the actions taken and the outcomes of the organization. This outbreak has affected countless industries around the world. This has contributed to the closure or suspension of manufacturing operations in most industrial units around the world. The emergence of the COVID-19 pandemic has a huge impact on sectors such as aviation, automotive, manufacturing and food and beverage. Several countries around the world have suspended domestic and international travel operations to control the spread of COVID-19. This is expected to reduce demand for aircraft, reduce aircraft production, and result in significant lost revenue. The automotive industry is one of the major sectors suffering significant losses from the COVID-19 pandemic. The supply and demand of automobiles has been affected globally as a result of closures and closures of manufacturing units in several countries around the world. COVID-19 has spread all over the world, starting with APAC, to Europe, and is now accelerating in North America. COVID-19 has affected almost all continents. However, in the United States, Brazil, India, Russia and the United Kingdom, the number of diagnostic cases has increased dramatically. COVID-19 has had a serious global impact on various sectors that will have a significant impact on the AGV market.
Automated Guided Vehicle Market Segmentations
By Type
• Tow vehicles
• Unit load carriers
• Pallet trucks
• Assembly line vehicles
• Forklift Trucks
By Navigation technology
• Laser guidance
• Magnetic guidance
• Inductive guidance
• Optical tape guidance
• Vision guidance
• Others
By Application
• Transportation
• Distribution
• Storage
• Assembly
• Packaging
• Waste handling
By Industry
• Automotive
• Manufacturing
• Food & beverages
• Aerospace
• Healthcare
• Logistics
• Retail
• others
By Mode of operation
• Indoor
• Outdoor
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
